Dogecoin (DOGE-USD), the largest memecoin by market cap, is the only major cryptocurrency Thursday afternoon to trade in the green, outpacing the two most prominent digital tokens, Bitcoin (BTC-USD) and Ethereum (ETH-USD).
Specifically, Dogecoin (DOGE-USD +0.4%) is rising slightly to $0.14 intraday and remains rangebound. Doge’s modest upswing comes as Tesla (TSLA) CEO Elon Musk, who has been known to tweet about Doge in particular, offered to buy Jack Dorsey’s Twitter (TWTR) for $54.20 per share, or about $43B. Speaking of Doge, Robinhood (HOOD) CEO and Co-Founder Vlad Tenev laid out his thinking on what it would take for Doge to “truly be the future currency of the Internet and the people,” he wrote in a tweet, citing already smaller transaction fees compared with credit card networks, as well as faster block times.
Meanwhile, the global crypto market cap is off more than 3%, recently standing at $1.85T, according to data from CoinMarketCap. Bitcoin (BTC-USD -3.2%) is edging lower to $39.75K and Ether (ETH-USD -3.4%) is down to $2.99K, both back under key technical levels in the wake of a broader risk-off day.
More cryptos: binance coin (BNB-USD -1.7%), ripple (XRP-USD -0.9%), solana (SOL-USD -5.2%), cardano (ADA-USD -4.1%), terra (LUNA-USD -7.3%), polkadot (DOT-USD -3.2%), shiba inu (SHIB-USD -3.8%), wrapped bitcoin (WBTC-USD -3.7%), NEAR protocol (NEAR-USD -4.1%), polygon (MATIC-USD -4.4%), litecoin (LTC-USD -3.0%) and cosmos (ATOM-USD -3.9%).
On Wednesday, crypto stocks rose as Bitcoin rebounded off one-month lows.